The euro held above the $1.19 mark, recovering from a near two-month low of $1.185 hit on Monday, amid hopes of a solid economic recovery in Europe. Economic data released this week showed the Eurozone private sector activity expanded in June by the most in 15 years, helped by the latest re-opening efforts and a rapid pace of vaccination, with prices charged for goods and services rising at an unprecedented rate. Also, Germany's consumer and business morale came in stronger than expected as Europe's largest economy picks up pace. Meanwhile, ECB President Christine Lagarde said on Monday that brighter prospects for global demand and a faster-than-anticipated increase in consumer spending could result in a stronger economic recovery; while rising US consumer prices would have only a limited impact in the Euro Area and that a tightening of wider financing conditions would be premature.
Historically, the Euro Dollar Exchange Rate - EUR/USD reached an all time high of 1.87 in July of 1973.The euro was only introduced as a currency on the first of January of 1999. However, synthetic historical prices going back much further can be modeled if we consider a weighted average of the previous currencies. Euro Dollar Exchange Rate - EUR/USD - data, forecasts, historical chart - was last updated on June of 2021.
The Euro Dollar Exchange Rate - EUR/USD is expected to trade at 1.18 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.16 in 12 months time.